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it did inflate the economy. the problem is that you had fiscal policy which is what the white house could control. it didn't really work. it worked horribly. we know that unemployment is going down because the labor force is shrinking. that's why it is going down. it is an unprecedented thing. the only thing left to do is monetary policy. you try to pump up the economy by printing more money. a lot of people criticize ben bernanke for that. it could sew the seeds of inflation where down the road the stuff will be way too expensive. it was the only game in town. if you believe bernanke, if he didn't do that, we may have gone into a double dip recession or something worse. >> let's talk about the fact that so many people who are heads of companies, corporations , manufacturing, service, doesn't matter what sector of the economy, there is such uncertainty looking into the new year. i want you to talk about the likelihood that businesses in this country are going to expand in this economic climate. >> i don't think
it did inflate the economy. the problem is that you had fiscal policy which is what the white house could control. it didn't really work. it worked horribly. we know that unemployment is going down because the labor force is shrinking. that's why it is going down. it is an unprecedented thing. the only thing left to do is monetary policy. you try to pump up the economy by printing more money. a lot of people criticize ben bernanke for that. it could sew the seeds of inflation where down the...
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economy would be a bad thing. is he still fighting tooth and nail to raise taxes on the successful. isn't there a contradiction there? if raising taxes on the middle class is bad? shouldn't it be really bad for the people that actually hire the middle class? >> absolutely. and it is a fragile economy, greg. you are right. and, two years ago the president when we had economic growth that was actually higher than it is today said we shouldn't be raising taxes in the middle of a weak economy. today here we are we still have got a fragile and weak economy. we know that raising taxes at the $250,000 threshold would hit a million small businesses who employ 25% of the workforce in this country. it would be all the analysts, all the economists say that this would be really bad for our economy. and if you look at the impact of the revenue increases. if the president gets all the tax increases he wants it funds the government next year for next a week. this is not a revenue problem it's a spending problem which is what rep
economy would be a bad thing. is he still fighting tooth and nail to raise taxes on the successful. isn't there a contradiction there? if raising taxes on the middle class is bad? shouldn't it be really bad for the people that actually hire the middle class? >> absolutely. and it is a fragile economy, greg. you are right. and, two years ago the president when we had economic growth that was actually higher than it is today said we shouldn't be raising taxes in the middle of a weak...
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the economy is right on that precipice. if we were to just take a shot into, you know, the back side here, you know, our consumer confidence has been dropping week by week and we'll get right back into slow growth and then we'll freak out and do something more stupid. >> you were smirking, jonas. >> to get to your original question of the stock market, i think if they did nothing, but kick the can an entire year with all of these things and pushed the whole thing the next holiday season and holiday sales like this year, i think the market would go up, wall street is happy with pushing the problem down the road even though it should be addressed sooner than that. i don't think it's good for the stock market in the short run to solve these deficit problems. maybe we can keep rates 0 low and basically get money or nothing basically. >> steve? >> this is absolutely right. everybody thinks that 4 trillion dollars is going to wreck the economy somehow. these cuts are very small in terms of the overall size of the economy. plus, p
the economy is right on that precipice. if we were to just take a shot into, you know, the back side here, you know, our consumer confidence has been dropping week by week and we'll get right back into slow growth and then we'll freak out and do something more stupid. >> you were smirking, jonas. >> to get to your original question of the stock market, i think if they did nothing, but kick the can an entire year with all of these things and pushed the whole thing the next holiday...
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Dec 27, 2012
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. >> you have less money in a difficult economy with little clarity. >> the economy will go down sharply. >> look at the number from the tax policy center. this is the average tax hit the families take on top of what they pay on taxes. those make between $40,000 and $50,000 pay extra $1700. >> if you manage to make over $200,000, it will be a big jump up. you will need to send a check to uncle sam for $14,000 initial dollars. $500,000 to $1 million pays $34,000 more. they want $215,000 on top of what you pay in taxes. >> the wealth manager says the money you have left as far as businesses also deal with their own tax hikes. >> you are going to see less money in your paycheck. >> the government has to bite the bullet with $1.2 trillion in spending cuts. more than half of that is to the defense budget. >> they say families may need austerity calculation before making big purchases. look at the money you have and the money you need in the future to decide if you need the next big picture. doug? >> doug: thank you, molly. residents of the webster new york neighborhood set ablaze christmas ev
. >> you have less money in a difficult economy with little clarity. >> the economy will go down sharply. >> look at the number from the tax policy center. this is the average tax hit the families take on top of what they pay on taxes. those make between $40,000 and $50,000 pay extra $1700. >> if you manage to make over $200,000, it will be a big jump up. you will need to send a check to uncle sam for $14,000 initial dollars. $500,000 to $1 million pays $34,000 more....
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Dec 30, 2012
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we are not in a productive economy. >> we have seen investment in economy. what about our favorite bull? what do you think? is 2013 going to turn the corner in a better direction like ben better -- bernanke and the other head chairs are saying? >> we haven't had a real recovery in four years. we really haven't. you just get the feeling that the economy is ready to pop. the argument though is everything washington is doing is holding back this expansion. that'sou the frustration investors and businesses feel. on the positive side you have the energy -- i highly agree with your conversation that technology are just drivers ofy high how perked -- high powered growth. but the force are the higher tax rates that are coming in 2013 and some of the regulation s in sew bough ma care are holding back -- in obamacare are holding back the willingness to expand and hire morene workers. >> and there is going to be a huge regulatory wave to finish out the dodd frank financial reform. there is a hugee, pinned up wave on energy. all kinds of rules hitting utilities and ener
we are not in a productive economy. >> we have seen investment in economy. what about our favorite bull? what do you think? is 2013 going to turn the corner in a better direction like ben better -- bernanke and the other head chairs are saying? >> we haven't had a real recovery in four years. we really haven't. you just get the feeling that the economy is ready to pop. the argument though is everything washington is doing is holding back this expansion. that'sou the frustration...
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in the long-term, the economy will suffer, but republicans may be able to say we tried to stop this, this is obama's deal, now he owns it. >> but they need to do better with communicating that exact message, really, if you look at what's going on here, obama has been persistent and bullheaded saying, it's my way or no way and i think he can wants to go over the cliff to demonize and at the same time bullying the middle class. >> and in the short-term run, that it is inevitable that the democrats will say you guys, you republicans, you put us offer the cliff because you were defending your rich millionaire friends, it's inevitable they will say that and that's a winning political line in the short-run. and over that, however, and you ask where is the leadership from this president, where is it? >> and here, stuart. >> doesn't he agree with you. >> americans with funny accent. let me ask you this question, explain to me and to the american people out there right now why you need to protect millionaires tax cuts in two sentences? >> okay, if you tax people over $250,000. >> wait a secon
in the long-term, the economy will suffer, but republicans may be able to say we tried to stop this, this is obama's deal, now he owns it. >> but they need to do better with communicating that exact message, really, if you look at what's going on here, obama has been persistent and bullheaded saying, it's my way or no way and i think he can wants to go over the cliff to demonize and at the same time bullying the middle class. >> and in the short-term run, that it is inevitable that...
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Dec 29, 2012
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washington or the private economy? >> well, i think, actually if you look at a couple of indicators, it's not good for at least the first half of 2013. one is business investment. business investment is now weaker than in 2008. and on top, so you have lots of companies sitting on their hands and you also have small business confidence taking a huge hit in november, which is very worrying. and person per capita, person income. >> it's still down from even at the start of this recovery. steve, you wanted to get in there? >> yeah, let me be the bull here for a minute. we talk auld time about the energy sector and it's not just the energy sector, we've had a mini renaissance in manufacturing in this country, in transportation because of the fact the energy prices are falling and makes the american much more competitive at the margin. i think 2013 is going to see continued declines in energy prices. that's like a tax cut for the american consumer, paul. >> but, paul, the thing we haven't mentioned here is unemployment. we'v
washington or the private economy? >> well, i think, actually if you look at a couple of indicators, it's not good for at least the first half of 2013. one is business investment. business investment is now weaker than in 2008. and on top, so you have lots of companies sitting on their hands and you also have small business confidence taking a huge hit in november, which is very worrying. and person per capita, person income. >> it's still down from even at the start of this...
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economy right now. shipments of all kinds could actually be stuck on cargo ships if a longshoreman strike goes ahead as planned. the stakes for the recovery coming up. patti ann: high noon in those fiscal cliff negotiations. >> nothing have move forward in regards to our budget crisis unless speaker boehner and mitch mcconnell will go forward with our plan. speaker boehner is willing to negotiate, we have not heard a word from mitch mcconnell, and nothing is hang. patti ann: chris vanhollen joins us next. pwhrafp [ woman ] ring. ring. progresso. i just finished a bowl of your new light chicken pot pie soup and it's so rich and creamy... is it really 100 calories? let me put you on webcan... ...lean roasted chicken... and a creamy broth mmm i can still see you. [ male announcer ] progresso. you gotta taste this soup. . patti ann: fox news alert, potentially good news for the nation's housing market. pending home sales, which measure homes that are in contract and about to be sold rose 1.7% in november to
economy right now. shipments of all kinds could actually be stuck on cargo ships if a longshoreman strike goes ahead as planned. the stakes for the recovery coming up. patti ann: high noon in those fiscal cliff negotiations. >> nothing have move forward in regards to our budget crisis unless speaker boehner and mitch mcconnell will go forward with our plan. speaker boehner is willing to negotiate, we have not heard a word from mitch mcconnell, and nothing is hang. patti ann: chris...
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how does it help the broad economy though? >> what you're seeing is readjusting of the economy. most of this tax money comes out of those making 250,000 or mo more, an increase on those individuals. at the same time that we're finding out here on capitol hill about a decrease on those making 250 or less, so, majority of americans. when we have this increase on a very small portion, we see that those folks are welcoming this increase, a poll released the day before christmas put through american express and the harrison group, saw that 67% of those making 1% or more want today see this increase happen. >> all right. let me move on to todd, because i can tell you that there are a lot of tax increases just in this health care law, i didn't even mention some of them at the top of the show, todd. what i'm talking about additional payroll tax for those making more than $250,000, a taxable taxing and spending, and how much health care you can write off every year, and people don't know how much it will hurt them and the broad economy. >> that's right, they haven't seen it taken out of
how does it help the broad economy though? >> what you're seeing is readjusting of the economy. most of this tax money comes out of those making 250,000 or mo more, an increase on those individuals. at the same time that we're finding out here on capitol hill about a decrease on those making 250 or less, so, majority of americans. when we have this increase on a very small portion, we see that those folks are welcoming this increase, a poll released the day before christmas put through...
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you cover the economy every day. what does that mean to you and how does that affect the average person that will watch this go through? >> a lot of people entered the new year thinking i can't wait to file my taxes so i can get my tax return check. here is the irony and we will start from the bottom of the list. amt is my favorite thing to talk about because it's also known as the wealth tax. it was created 43 years ago because evil, greedy people were not paying their quote, unquote, fair share. this time it could affect $34 million people starting at $74,000. why? it was never indexed for inflation. it was one of these taxes put into plate for punitive measures very much like legislation we see all the time now, not to help the economy, but to somehow punish those people who seem to have the upper hand on all of us. as far as everything else is concerned, unemployment, let's talk about that. anyone receiving extended unemployment benefits, kiss those good-bye january 6th. the economy, it won't collapse january 1st
you cover the economy every day. what does that mean to you and how does that affect the average person that will watch this go through? >> a lot of people entered the new year thinking i can't wait to file my taxes so i can get my tax return check. here is the irony and we will start from the bottom of the list. amt is my favorite thing to talk about because it's also known as the wealth tax. it was created 43 years ago because evil, greedy people were not paying their quote, unquote,...
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is how our economy works best. that is how we grow. the sum total of all budget agreements we've reached so far prove there's is a path forward. that it is possible. if we focus not on our politic buzz what is right for the country. and the one thing i think hopefully we'll focus is seeing if we can put a package like this together with by little bit less drauma, more brinksmanship, not scare the heck out of folks quite as much. we can come together as democrats and republicans to cut spending and raise revenue in a way reduces our deficit, protects our middle class, provides ladders into the middle class for everybody willing to work hard, we can find a way to afford investments we need to grow and compete. we can settle this debate or at the least not allow it to be so all consuming all the time it stops us from meeting other challenges, creating jobs, boosting incomes. fixing our immigration systems. protecting our planet are from harmful affects of climate change. boosting domestic energy production. protecting our kids from horror
is how our economy works best. that is how we grow. the sum total of all budget agreements we've reached so far prove there's is a path forward. that it is possible. if we focus not on our politic buzz what is right for the country. and the one thing i think hopefully we'll focus is seeing if we can put a package like this together with by little bit less drauma, more brinksmanship, not scare the heck out of folks quite as much. we can come together as democrats and republicans to cut spending...
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but how long can our economy take the uncertainty? >> it is not just uncertainty. we have had that factored in. the reality is that unless the president suspends the increase in payroll taxes that are going to take place, not just social security, but withholding for income tax, while they continue to negotiate, we have gone off the cliff. in the month of january, people will live off their credit cards, but they can only do that so long. come february and march, the higher taxes will require adjustments in the spending habits of folk who is make between $25,000 and $100,000 a year. i would point out that this is no reason to give the president everything he wants and pass that bill that he proposes because if the republicans do that, they lose all their leverage. i have news for most people. if we dont curb our spending, everybody's going to have to pay the higher taxes in the end because things are flying out of ceil. >> no one's talking about spending cuts right now t. does not look like they will be part of the stop-gap measure. and the alternative minimum tax.
but how long can our economy take the uncertainty? >> it is not just uncertainty. we have had that factored in. the reality is that unless the president suspends the increase in payroll taxes that are going to take place, not just social security, but withholding for income tax, while they continue to negotiate, we have gone off the cliff. in the month of january, people will live off their credit cards, but they can only do that so long. come february and march, the higher taxes will...
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but let's make sure that middle class families and the american economy and in fact the world economy aren't adversely impacted because people can't do their jobs. >> sources say house speaker are john boehner deferred to senate colleagues and told them house leaders would consider, accept or amend their plan. what s not expected to be included in any deal is increasing the debt limit, something democrats have wanted and republicans have resisted. >> we he haded a long meeting in the white house and it was constructive. we hope that it will bear fruit. but that is what we hoped a lot. i think that the next 24 hours will be very instructive as to what we are able to accomplish. >> if it doesn't work president obama wants lawmakers to vote on what would essentially be plan c. here is what it would include. focusing on three key area. keeping tax cuts for those making $250,000 a year or less. extending unemployment benefits and it would delay dramatic spending cuts until later next year. the top senate republican recognizes this is a critical time. >> we are engaged in discussions the ma
but let's make sure that middle class families and the american economy and in fact the world economy aren't adversely impacted because people can't do their jobs. >> sources say house speaker are john boehner deferred to senate colleagues and told them house leaders would consider, accept or amend their plan. what s not expected to be included in any deal is increasing the debt limit, something democrats have wanted and republicans have resisted. >> we he haded a long meeting in...
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economy. take a look at this. according to a new report from the conference board now just to explain, a score of 90 on the conference board's index means the economy is healthy. the last time we saw that number was 2007. before the start of the financial crisis. over the last couple of months we have seen steady declines. november's report showed an index score of 71.5 and just 65.1 in december. that's the lowest number we have seen since august. matt mccall is the president of penn financial group. he jones us now live. how serious is this? >> it is extremely serious, gregg. we're seeing numbers backdating going back to november. what we haven't seen yet, we won't see until january the effect of the uncertainty of fiscal cliff and potential of falling off the fiscal cliff will have on the economy and have on consumers and potentially lead us back into as you mentioned what a lot of economists believe, another recession. gregg: what happens when fourth quarter earnings come out? >> nobody is
economy. take a look at this. according to a new report from the conference board now just to explain, a score of 90 on the conference board's index means the economy is healthy. the last time we saw that number was 2007. before the start of the financial crisis. over the last couple of months we have seen steady declines. november's report showed an index score of 71.5 and just 65.1 in december. that's the lowest number we have seen since august. matt mccall is the president of penn financial...
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i mean, you could kind of smell it, you could feel it in the economy. no one was excited about this holiday season. everyone felt as though they had very little clarity on where the future was economically, so it really didn't surprise me. plus, i walked around malls, around new york. you saw a lot of people, you didn't see a lot of bags, so i was not shocked by this. gregg: is 2012 the year of indecisiveness? >> yeah, that's exactly the way i would put it. going all the way through, at the beginning was obamacare going to be overturned, because we might see hiring pickup. remember, obamacare's a drain on the finances of a lot of companies, so people didn't make a lot of decisions until that supreme court decision came out. now there's questions about fiscal cliff, and as a result of that, everyone has basically inherent inertia. nobody wants to move forward, make decisions. it's a very tough economic environment. gregg: you know, out in the shopping malls it's really being felt, and we measure that, right, with shopper track? >> yes. and shopper track
i mean, you could kind of smell it, you could feel it in the economy. no one was excited about this holiday season. everyone felt as though they had very little clarity on where the future was economically, so it really didn't surprise me. plus, i walked around malls, around new york. you saw a lot of people, you didn't see a lot of bags, so i was not shocked by this. gregg: is 2012 the year of indecisiveness? >> yeah, that's exactly the way i would put it. going all the way through, at...
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scramble since we have watched the economy go off the major cliff. president obama is saying they will have a agreement. this later on america's news headquarters. now back to forbes on fox . for all of your latest headlines. >> as the clock ticks down. new report shows that american workers are not using up all of the vacation time. they are said to be seen as lazy and losing their job. this is a good sign for the economy. how so, steve. not for those two reasons . we don't have too much vacation or little. we do it just right. europe had work like we did. you want lopping beer vacation you can have a stagnant economy like europe. we raise taxes we'll have longer vacation but fewer jobbings. >> you are right. we don't want to be like the french. and people here in the united states and government union. and i was on vacation and check my blackberry and read a rick unger e-mail while on vacation. >> you are never on vacation. >> you work it anyway. nine out of the 10 are checking their work phones. any time to rejuvenate and come back ragged. >> we n
scramble since we have watched the economy go off the major cliff. president obama is saying they will have a agreement. this later on america's news headquarters. now back to forbes on fox . for all of your latest headlines. >> as the clock ticks down. new report shows that american workers are not using up all of the vacation time. they are said to be seen as lazy and losing their job. this is a good sign for the economy. how so, steve. not for those two reasons . we don't have too much...
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all of this money is taken out of the overall economy that will slow the overall economy. that is just the tax side of the equation. left unresolved is america's fundamental problem which is overspending and massive buildup of debt. i don't want to be harsh but we look a lot more like europe than we did a few days ago. arthel: are strong words, stu. so far the markets are rallying. you're saying hold onto your hats because the wind of changes are coming. >> the market is indeed going to rally. 22 minutes from now wall street opens up you will see maybe a 200 point gain for the dow jones industrial average. this is for two reasons. it's a relief rally because things could have been a whole lot worse. taxes could have gone up across the board and it is a relief rally because there is now a degree, a very limited degree of certainty about the tax rates that upper income people will face. so we will go up 200 points at the opening bell. how long it lasts is another story entirely because eight weeks from now we face another cliff. that is the debt ceiling cliff. and again that
all of this money is taken out of the overall economy that will slow the overall economy. that is just the tax side of the equation. left unresolved is america's fundamental problem which is overspending and massive buildup of debt. i don't want to be harsh but we look a lot more like europe than we did a few days ago. arthel: are strong words, stu. so far the markets are rallying. you're saying hold onto your hats because the wind of changes are coming. >> the market is indeed going to...
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. >> you have less money in a difficult economy with little clarity. >> the economy will go down sharply. >> look at the number from the tax policy center. this is the average tax hit the families take on top of what they pay on taxes. those make between $40,000 and $50,000 pay extra $1700. >> if you manage to make over $200,000, it will be a big jump up. you will need to send a check to uncle sam for $14,000 initial dollars. $500,000 to $1 million pays $34,000 more. they want $215,000 on top of what you pay in taxes. >> the wealth manager says the money you have left won't go as far as businesses also deal with their own tax hikes. >> you are going to see less money in your paycheck. >> the government has to bite the bullet with $1.2 trillion in spending cuts. more than half of that is to the defense budget. >> they say families may need austerity calculation before making big purchases. look at the money you have and the money you need in the future to decide if you need the next big picture. doug? >> doug: thank you, molly. residents of the webster new york neighborhood set ablaze chr
. >> you have less money in a difficult economy with little clarity. >> the economy will go down sharply. >> look at the number from the tax policy center. this is the average tax hit the families take on top of what they pay on taxes. those make between $40,000 and $50,000 pay extra $1700. >> if you manage to make over $200,000, it will be a big jump up. you will need to send a check to uncle sam for $14,000 initial dollars. $500,000 to $1 million pays $34,000 more....
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the economy is growing. but sustaining that trend is going to require elected officials to do their jobs. the housing market is recovering but that could be impacted if folks are seeing smaller paychecks. the unemployment rate is the lowest it's been since 2008. but already you see businesses and consumers starting to hold back because of the dysfunction they see in washington. economists, business leaders, all think that we are poised to grow in 2013. as long as politics in washington don't get in the way of america's progress. so we have to get this done. i just want to repeat. we had a constructive meeting today. senators reid and mcconnell are discussing potential agreement. where we get a bipartisan bill out of the senate. over to the house and done in a timely fashion. so that we met the december 31 deadline. given how things have been working in this town, we always have to wait and see until it happens. one thing the american people should not have to wait and see is some sort of action. if we don't
the economy is growing. but sustaining that trend is going to require elected officials to do their jobs. the housing market is recovering but that could be impacted if folks are seeing smaller paychecks. the unemployment rate is the lowest it's been since 2008. but already you see businesses and consumers starting to hold back because of the dysfunction they see in washington. economists, business leaders, all think that we are poised to grow in 2013. as long as politics in washington don't...
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let's make sure that middle-class families and the american economy and in fact the world economy are not adversely impacted because people can do their can't do their jobs. >> arthel: now the latest. >> discussions are ongoing but we shouldn't expect any announcements before senators are briefed. key players are pretty tight-lipped. after a white house meeting yesterday, one of the top negotiators sounded hopeful. >> we had a longs meeting in the white house, very constructive. we hope that it will bear fruit. i think that the next 24 hours will be very instructive as to what we're able to accomplish. >> reporter: sources say john boehner referred to his senate colleagues and told them house leaders would consider their plan. one item raising the debt limit is not expected to be a part of any final compromise. if senate leaders fail the president wants congress to vote his plan keeping tax cuts for making $250,000 a year less, extending unemployment benefits for some 2 million people and delaying spending cuts until later this year. white house officials that top senate republican wi
let's make sure that middle-class families and the american economy and in fact the world economy are not adversely impacted because people can do their can't do their jobs. >> arthel: now the latest. >> discussions are ongoing but we shouldn't expect any announcements before senators are briefed. key players are pretty tight-lipped. after a white house meeting yesterday, one of the top negotiators sounded hopeful. >> we had a longs meeting in the white house, very...
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he said the economy was too fragile for a tax increase. the economy is more fragile now than it was two years ago. if the president were to make an announcement tonight and be a real statesman we are at a deadlock here, we can't reach an agreement, i am going to agree for the good of the country and good of the economy to extend the tax cuts for everybody for 6 months until we get this resolved we wouldn't be talking the fiscal cliff that would take statesmanship from the president and it would do the economy a world of good and i wish that would happen. think about this, this is a major situation. we are almost 24-hours away from the new year. no business, no investor, no worker knows what the capital gains tax will be the personal tax is going to be the social security tax will be alternative minimum tax will be. it is like a third world country we are right to blame both parties in congress because they have to get their act together and get this done. >> i don't just blame both partys in congress i blame the president, too. this is abo
he said the economy was too fragile for a tax increase. the economy is more fragile now than it was two years ago. if the president were to make an announcement tonight and be a real statesman we are at a deadlock here, we can't reach an agreement, i am going to agree for the good of the country and good of the economy to extend the tax cuts for everybody for 6 months until we get this resolved we wouldn't be talking the fiscal cliff that would take statesmanship from the president and it would...
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if you -- you used the right word, cripple the economy. the ports in this country are the backbone of our trade, both export and imports and i've read estimates of $100 billion or more comes in and out. so it cook devastating, and reverberate throughout the economy. retailers, wholesalers. food distributors, everybody would be affected by the strike if it goes forward. >> exactly what do the unions want and what is management willing to do? how far apart are the two groups? >> it's interesting. they're not really -- normally in a wage dispute with the union,ettes it's about wages and benefits but in this case it's not. what the unions are objecting to, according to the media reports i've been seeing, is they object to new kinds of work rules and new kinds of efficiencies that the port systems want to put in place to make the ports more productive, lower costs. that's happening -- you cover these markets every day. it's happening in every industry in america and they're objecting to putting in machinery, doing things that might take one wor
if you -- you used the right word, cripple the economy. the ports in this country are the backbone of our trade, both export and imports and i've read estimates of $100 billion or more comes in and out. so it cook devastating, and reverberate throughout the economy. retailers, wholesalers. food distributors, everybody would be affected by the strike if it goes forward. >> exactly what do the unions want and what is management willing to do? how far apart are the two groups? >> it's...
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Jan 1, 2013
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keep some the money in the economy. that's good for the markets, that's good for folks working at different establishments and businesses and products. but there still a major problem out there, especially when you look at the u.s. deficits and debt and some investors are saying that congress still needs to address structural debt problems. >> if we get a fiscal deal that really addresses the long-term trajectory, that might be the final piece of the rubiks cube that could lift markets and take them up to double digits gains for 2013. >> and, of course, bret, as have you been reporting, it's unlikely we are going to get a structural debt deal in just the next three and a half hours, bret. >> bret: last thing, we are now saying that this is going to happen. we are going to go over the cliff and we might as well start calling it the fiscal valley because we are dealing with it tomorrow. congress could still do things that happen before wednesday when the markets come back in session. from a market perspective, what happen
keep some the money in the economy. that's good for the markets, that's good for folks working at different establishments and businesses and products. but there still a major problem out there, especially when you look at the u.s. deficits and debt and some investors are saying that congress still needs to address structural debt problems. >> if we get a fiscal deal that really addresses the long-term trajectory, that might be the final piece of the rubiks cube that could lift markets...
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economy? -- damage the u.s. economy? since i've lost weight i have so much more energy than i used to, when i'm out with my kids, my daughter's like, "mom, wait up!" and i'm thinking, "shouldn't you have more energy than me? you're, like, eight!" [ male announcer ] for every 2 pounds you lose through diet and exercise alli can help you lose one more by blocking some of the fat you eat. simple. effective. advantage: mom. let's fight fat with alli. learn more, lose more at letsfightfat.com. they don't help single moms. hi! hi! [ sarah ] what happened to our house last year? [ daughters ] it flooded and the water flooded out. yeah. [ sarah ] the red cross arranged the hotel for us. they gave me that break, that leverage, to be able to get it together and take care of them. you know? i feel like we've come full circle. [ daughter 1 ] like that! [ daughter 2 ] this is how i'll do it. [ sarah ] there you go. >> bret: peter lanza the father of newtown shooter adam lanza claimed his son's body. no word when they were claimed or
economy? -- damage the u.s. economy? since i've lost weight i have so much more energy than i used to, when i'm out with my kids, my daughter's like, "mom, wait up!" and i'm thinking, "shouldn't you have more energy than me? you're, like, eight!" [ male announcer ] for every 2 pounds you lose through diet and exercise alli can help you lose one more by blocking some of the fat you eat. simple. effective. advantage: mom. let's fight fat with alli. learn more, lose more at...
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truly, the stimulus money doesn't -- is not -- was not going to affect the economy. but the medicare providing doctors closing up their clinics taking a 30% pay cut. the milk fromming go $4 a gallon to $8 or $3 to $8. the loss of the payroll tax cut along with the uninsured having checks cut off as we all lost our tax cuts was really going to be quite incredible and those things though they are not talked about the alternative minimum tax and medicare doc fix and form program that the farm state republicans are fighting for but the rest of the republican leadership was not. this was going be a huge consumer hit and felt pretty quick le. those things had to be done and as i said earlier you will hear a lot of positive spin about how great they are. >> bret: a quick break. steve i promise you are on the other side with your thoughts about what is in this bill as we get ready for the house of representatives to take up the fiscal cliff legislation. we have you covered here on fox news channel throughout the night. a busy first day of 2013. [ rosa ] i'm rchantix. when th
truly, the stimulus money doesn't -- is not -- was not going to affect the economy. but the medicare providing doctors closing up their clinics taking a 30% pay cut. the milk fromming go $4 a gallon to $8 or $3 to $8. the loss of the payroll tax cut along with the uninsured having checks cut off as we all lost our tax cuts was really going to be quite incredible and those things though they are not talked about the alternative minimum tax and medicare doc fix and form program that the farm...
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economy. now the overall deal is at 100% signed off on by februar february 6, then we are right back to where we were this morning and again the national retail federation and the florida governor rick scott will be urging president obama to prevent a strike invoking the tap partly act and something not done since president george w. bush did it in 2002. back to you. >> doug: phil keating in miami. the so-called milk cliff that would also kick in to effect the lawmakers can't avoid the fiscal cliff they be averted now. hill source tells fox news and the senate agriculture leaders working on a year long extension of all farm programs. the source noted that the truman era law is so old it would take weeks to implement. even if the old law expires don't expect immediate spike if milk prices. >>> congress is still working to find agreement on the $60.4 billion emergency spending bill for hurricane sandy victims. some conservatives want the government to cut back spending in other areas in exchange
economy. now the overall deal is at 100% signed off on by februar february 6, then we are right back to where we were this morning and again the national retail federation and the florida governor rick scott will be urging president obama to prevent a strike invoking the tap partly act and something not done since president george w. bush did it in 2002. back to you. >> doug: phil keating in miami. the so-called milk cliff that would also kick in to effect the lawmakers can't avoid the...
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economy. it could cause worldwide implications. europe already is on the verge of trouble. to have the united states go off the edge would be catastrophic, for the world, for the global economy. kelly: juan, i was talking to a very good friend of mind who lives here in the united states. he is of course living here, came from paris, france. his friends overseas are saying what is going on with the united states? these guys are actually saying, why can't the united states get this together because so many people throughout the world depend on us. look, our white house chief correspondent ed henry reports the president is rushing back to washington late tonight to get this deal done but is there enough christmas spirit and cheer on capitol hill that there can be goodwill expressed towards republicans and democrats to work in harm any to harmony to find something amenable to everybody? >> i think public opinion out there, public opinion clearly is not favorable to republicans at this moment about
economy. it could cause worldwide implications. europe already is on the verge of trouble. to have the united states go off the edge would be catastrophic, for the world, for the global economy. kelly: juan, i was talking to a very good friend of mind who lives here in the united states. he is of course living here, came from paris, france. his friends overseas are saying what is going on with the united states? these guys are actually saying, why can't the united states get this together...
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theories the people we trust -- these are the people we trust to save the economy. before the commercial, we got a ray of sunshine. if we fall off the cliff and they're negotiating in good faith, maybe they can fix the damage next week but we'll are already giving our government more money. joining me, peter morrisy and former chief economist for the united states international trade commission. good to see you. >> nice to be are you. >> washington tends to be greedy, so if we go off the cliff, retroactively will we get the money back? >> we'll get some back but the notion we can put it back together, no matter what we do, we're in for a hard time. if we go off the cliff, we have a recession. the deal is raising taxes on upper income folk and increasing spending, it isn't going to take long for small business to realize they don't have much money to invest and create jobs and will have damaging affects. i would rather go over the cliff and force the president to really cut spending to get the middle class tax cuts he so badly wants. >> i want to take a look at what
theories the people we trust -- these are the people we trust to save the economy. before the commercial, we got a ray of sunshine. if we fall off the cliff and they're negotiating in good faith, maybe they can fix the damage next week but we'll are already giving our government more money. joining me, peter morrisy and former chief economist for the united states international trade commission. good to see you. >> nice to be are you. >> washington tends to be greedy, so if we go...
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it's the only way to fix the economy. it's the best thing for the economy. >> okay. take us through what each side is wanting. >> here's what the deal is. president obama wants tax cuts to expire for everyone except those making $250,000 a year. john boehner's plan "b" was anyone making under $1 million a year. neither seemed to work. it looked like president obottomma was coming back with the same deal, $250. they are miles apart. they are miles apart. >> there is a big divide. andrea, you were able to speak with a number of people on the hill. what reaction are you getting? >> well, the president has spread these stories and people in his administration that he is going to come to the table with a deal. we have been hearing that all week long. that did not happen. swan dive, we're going off the cliff. president obama wants us to go off. he is going to come back with a larger plan, the obama tax cuts. then he will be able to reinstate those across-the-board sequestration cuts to gut things like defense, national institutes of health. he will be able to reinstate a l
it's the only way to fix the economy. it's the best thing for the economy. >> okay. take us through what each side is wanting. >> here's what the deal is. president obama wants tax cuts to expire for everyone except those making $250,000 a year. john boehner's plan "b" was anyone making under $1 million a year. neither seemed to work. it looked like president obottomma was coming back with the same deal, $250. they are miles apart. they are miles apart. >> there is a...
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the economy is ready to grow next year. china has bottomed, europe has stabilized so there are some things in place that can help offset these additional taxes and cuts to government spending. >> now, you mentioned two years ago shall the spending cuts, the fiscal cliff, it was designed to force washington to deal with the nation's long-term debt problem. and instead, here we are, a final hour, who knows what will happen next and i want to specifically ask you about the lack of progress on those structural issues like entitlement spending because even the plan c isn't touching that. so that means regardless of what happens before january 1st, investors will then be dealing with a certain degree of political risk long-term after the fiscal cliff deadline has passed. so, how will that affect the market on the economy in terms of spending cuts? >> well, my fear is that the compromise will be that we get the tax increases and they postpone the spending cuts and that's the ultimate objective. >> yes he. >> and you know, that is
the economy is ready to grow next year. china has bottomed, europe has stabilized so there are some things in place that can help offset these additional taxes and cuts to government spending. >> now, you mentioned two years ago shall the spending cuts, the fiscal cliff, it was designed to force washington to deal with the nation's long-term debt problem. and instead, here we are, a final hour, who knows what will happen next and i want to specifically ask you about the lack of progress...
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will president obama ruin the american economy with all the new taxes? >> columbine. >> virginia tech. >> tucson,. >> newtown. >> newtown,. >> newtown. >> how many more. >> bill: how many celebrities want gun control even though some of them star in violent films. also a lawyer says he might sue the state of connecticut for failing to protect the kids in newtown. is it legal on both of those stories. plus can speaker boehner say fu to senate majority leader reid? it looks like it? >> that can't be good. >> bill: caution, you where to enter the no spin zone, the factor begins right now. >> bill: hi, i'm bill o'reilly. thanks for watching the first show in 2013. happy new year. president obama's true agenda emerges that is the subject of this evening's talking points memo. you may have noticed the factor has not covered the fiscal debate very much. not going to use that cliche, not going to say it that's because it was a fake crisis as the "wall street journal" says today in its lead editorial. the deal congress struck last night could have been done last
will president obama ruin the american economy with all the new taxes? >> columbine. >> virginia tech. >> tucson,. >> newtown. >> newtown,. >> newtown. >> how many more. >> bill: how many celebrities want gun control even though some of them star in violent films. also a lawyer says he might sue the state of connecticut for failing to protect the kids in newtown. is it legal on both of those stories. plus can speaker boehner say fu to senate...
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it is the o only way to fix thh economy. economy. >> okay. take us through what each side is wanting. >> here's what the deal is. president obama wants tax cuts to expire for everyone except those making $250,000 a year. john boehner's plan "b" was anyone making under $1 million a year. neither seemed to work. it looked like president obottomma was coming back with the same deal, $250. they are miles apart. they are miles apart. >> there is a big divide. andrea, you were able to speak with a number of people on the hill. what reaction are you getting? >> well, the president has spread these stories and people in his administration that he is going to come to the table with a deal. we have been hearing that all week long. that did not happen. swan dive, we're going off the cliff. president obama wants us to go off. he is going to come back with a larger plan, the obama tax cuts. then he will be able to reinstate those across-the-board sequestration cuts to gut things like defense, national institutes of health. he will be able to reinstate a l
it is the o only way to fix thh economy. economy. >> okay. take us through what each side is wanting. >> here's what the deal is. president obama wants tax cuts to expire for everyone except those making $250,000 a year. john boehner's plan "b" was anyone making under $1 million a year. neither seemed to work. it looked like president obottomma was coming back with the same deal, $250. they are miles apart. they are miles apart. >> there is a big divide. andrea, you...
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that last thing that our economy needs. so if they had taken the balanced field the president put on the talk where he would have been the first president to cut social security. it would have shored up confidence with businesses with the middle-class. it would have allowed us to start down doing meaning deficit reduction and it would have made sure the middle-class would not have a tax hike. >> the president has indicated a willingness to have that conversation but they said that was off the table. which is why it's not going to be final negotiation. the other point is, even with the new revenue the republicans have agreed to, this is how assinine this idea is, the president is not willing to commit the revenue to pin down the deficit. isn't the whole negotiation is by-product the debt talks from a year ago? isn't it supposed to be paying down our debt and getting back on the track? so if we can't agree that new revenue goes to paying down our debt, what is it for? new spending? >> arthel: i got to go. i to give tony the l
that last thing that our economy needs. so if they had taken the balanced field the president put on the talk where he would have been the first president to cut social security. it would have shored up confidence with businesses with the middle-class. it would have allowed us to start down doing meaning deficit reduction and it would have made sure the middle-class would not have a tax hike. >> the president has indicated a willingness to have that conversation but they said that was off...
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you're damaging the economy at the time it's already suffering damage. >> is what the unions do? think about what we've experienced the last year. l.a. airport strike happening on the busiest travel day of the year. a chicago teacher strike when kids were going back to school and wal-mart trying when christmas was hitting. unions hitting you see us when we're vulnerable. >> they're exercising maximum leverage at the point of maximum vulnerability in terms of employers just like corporations say this is what the market will bear. we'll go to china and get the cheapest labor possible. now you have workers in the united states saying this is what we need. if you look at the dock workers, dock workers in the 1960's, about 35, 40,000. now down to 4,000. only 10%. why? because of automation your previous guest was talk. >> 64,000 for the longshoreman's union. but haven't unions priced themself out of market? they made themself obsolete. you pointed out, if you don't want to do business here, go to china. >> here's the deal, you have to import goods in the united states. what they've do
you're damaging the economy at the time it's already suffering damage. >> is what the unions do? think about what we've experienced the last year. l.a. airport strike happening on the busiest travel day of the year. a chicago teacher strike when kids were going back to school and wal-mart trying when christmas was hitting. unions hitting you see us when we're vulnerable. >> they're exercising maximum leverage at the point of maximum vulnerability in terms of employers just like...
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economy. you said and something i disagree he with. >> 8% unemployment. 16 trillion dollar debt we're not moving forward, juan. >> we are moving forward. >> bill: no reason we're moving forward. >> yes, and i think that most americans disagree with you and think that the economy is finally starting to go for it and in fact. >> bill: based on what? >> if you just-- >> based on what? >> if you don't invest in education, infrastructure and the american people and just give money back to the rich then you go back to the days where, you know, less taxes, less regulations and-- >> you're both disagreeing, but you're agreeing in a round-about way and i've got to run. it's about money-- >> and a larger part of the identification, playing a large part-- >> no, this was about money. again, thank you for watching us tonight. i am bill o'reilly, please always remember that the spin stops right here and we're definitely looking out for u >>> right now, brand-new stories and breaking news. >> all eyes on th
economy. you said and something i disagree he with. >> 8% unemployment. 16 trillion dollar debt we're not moving forward, juan. >> we are moving forward. >> bill: no reason we're moving forward. >> yes, and i think that most americans disagree with you and think that the economy is finally starting to go for it and in fact. >> bill: based on what? >> if you just-- >> based on what? >> if you don't invest in education, infrastructure and the...
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this was obama's economy, his face calf cliff. now boehner fails on the vote and next thing you know, the ball is in your court. >> juan: i think you are right. i think boehner at the moment looking weaker. he is out of this altogether at the moment. his troops abandoned him. he is okay keeping the speaker on january 3 when the republican caucus vote but you are hearing rumors about eric cantor who is next to him launching some kind of a coop at the moment. i don't know where it goes. but it seems that he is in a position where the republicans in the senate and the white house are really the ones who will negotiate the deal. you have ten or 19 in the senate. will he have a vote? >> eric: 32 bills passed out in the senate waiting for a vote. >> kimberly: this is ridiculous. imagine having the advantage. say you play basketball and five guys on your team and the other side has one player and you are still getting beat because you keep turning over the ball. that's what it seems like. they have. leadership crisis. there is a split wi
this was obama's economy, his face calf cliff. now boehner fails on the vote and next thing you know, the ball is in your court. >> juan: i think you are right. i think boehner at the moment looking weaker. he is out of this altogether at the moment. his troops abandoned him. he is okay keeping the speaker on january 3 when the republican caucus vote but you are hearing rumors about eric cantor who is next to him launching some kind of a coop at the moment. i don't know where it goes. but...